$1 billion Sequoia-backed Health Catalyst has picked lead banks for its IPO

Health Catalyst

Steve Barlow and Tom Burton are co-founders at Health Catalyst, which is moving forward with the IPO process.

• Health Catalyst, a $1 billion healthcare data startup, is interviewing banks for an initial public offering, according to multiple sources.
• The company has hired Goldman Sachs and JPMorgan to lead the IPO process, according to one of the sources.
• Health Catalyst announced a $100 million equity and debt financing round in early February which it said valued the company above $1 billion.

Health Catalyst, a Sequoia Capital-backed startup that stores and analyzes data for healthcare companies, is interviewing banks for an initial public offering expected later this year, according to multiple people familiar with the process.

The startup has hired Goldman Sachs and JPMorgan to lead the IPO process, one source said, and is interviewing banks for other roles.

Health Catalyst, Goldman Sachs and JPMorgan declined to comment.

The move toward an IPO comes just weeks after the company announced that it raised $100 million in equity and debt financing led by the healthcare-focused investor OrbiMed.

That round, announced February 7, valued the company over $1 billion, the company said.

Health Catalyst was founded in Salt Lake City, Utah, in 2008 by Steve Barlow and Tom Burton. Its led by CEO Dan Burton, who invested early in the company through his investment firm HB Ventures.

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